Sport Betting 101
While not as popular as betting against the point spread in sports gambling, betting the “over/under” isn’t that far behind. Sometimes you may see this as O/U, over-under, over under or simply referred to as “the over” or “the under.”
Las Vegas Sports Betting 101: How to Bet on Sports in Las Vegas Every year, thousands of sports enthusiasts flock to Las Vegas to place their bets and closely watch their teams with dollar signs in their eyes. The first step is learning how sports betting works and understanding some of the language and terminology that bettors use. Over the coming days and weeks, we will be using this space to discuss several Sports Betting 101 topics.
What does over under mean in betting?
Simply stated, it is the total of the points scored by both teams. While all sports employ an over/under betting option, by far the most money wagered on this bet is in football and basketball. Sports like baseball and hockey offer over/under options, but the vast majority of bets on those sports in based on the established “money line” to pick a winner at a set price.
Unlike a point spread bet in which you are aligning yourself with one team, you’re betting on both teams – either their offenses or the defenses – when betting the over/under. Sports books set over/under scores on games based upon numerous factors.
In the NFL, most over/under scores are set in the low-to-mid 40s.In college football, over/under scores are usually in the high-40 to low 50s – in the Big 12, the land that defense forgot, it can hit the 60s.In the NBA, a typical over/under tends to hover in the 210 range. In college basketball, a standard over/under is between 140 and 155.The hidden factors that come into play in determining a point spread vary by sport, but have common themes. Recent team history is a primary factor that sports books like to exploit. Sports by their nature are a reflective business based on developing trends from previous games (“getting on a roll”) and, if a football team has scored 40-plus points in three straight games, the over/under is going to be higher because sports bettors tend to believe that trends are going to continue. It’s human nature…until they don’t.
If a critical player – a quarterback in football or a dominant scorer in basketball – is out or playing injured, the over/under will drop.
Other factors critical in setting the over/under number include weather (where applicable), an undefinable history between teams (you know Steelers-Ravens games are going to be physical bloodbaths) and injuries that may not jump out to casual fans that mean a lot sports books are all factors that go into creating and setting an over/under line that will draw an even number of fans to both sides of the number.
The key to betting the over/under is to look at a slate of games without knowing what the over/under is and set what you believe it should be based on your knowledge of those two teams. The ones that differ the most from what you think should be are the ones to place your bets on.
One final note that has been a mantra of those who bet the over/under with some consistency – every game is under until it goes over.
If you’re new to sports betting, start with picking and choosing games you’re convinced should go under and get an understanding of how late-game fireworks can botch your plans.
Every bettor has to start somewhere, right?
Well the best place to get started as a sports bettor is right below. We’ve created a comprehensive yet user-friendly guide to some general sports betting principles and common terms.
Having ‘action’ makes any game interesting but American sports bettors combine to lose literally billions of dollars each year.
There are three main reasons for that:
But you’re on this site because you like sports betting and want to get better results. Here some tips:
Serious bettors have a well-constructed plan. Even when they get hit in the mouth. The fastest way to blow your entire bankroll is to chase – don’t do it.
Professionals don’t fall in love with hype or recency bias. They bet numbers, not teams, and are not on the same emotional roller-coaster as the recreational players.
Pro bettors put a lot of effort into getting ‘the best of it’. The game won’t always go their way but they know if they keep beating the closing line they will be winning long-term.
Casual bettors tend to prefer the favorite and the Over. That can lead to some good value situations on underdogs and Under the total.
Understand that you’ll have some brutally bad beats, but also some very lucky covers. Don’t let either of those affect your next bet.
Sports Betting For Beginners
The chance to turn a small amount of money into a massive return sounds great. But parlays will burn through your money faster than anything else so recreational players should avoid them.
The smaller the market the easier it is to beat. For example, achieving a high strike rate on NFL player props is far more achievable than betting ATS. On those bigger markets you are swimming with the sharks.
Of course we’re talking our own book here, but that’s because we truly believe we can help bettors win.
The talking heads on TV may have played the game but that doesn’t mean they know anything about betting. When it comes to predictions just put your TV on mute and you’ll be better off.
We don’t want to be the fun police, but betting + alcohol = 🙁
Now that you have some basic tips it is important that you understand the language of bettors.
Here’s a brief rundown of
Your team simply needs to win the game. There is no spread involved.
Best Sport Betting Site
Also known as the ‘line’ or ‘point spread’, the spread is what bookies use to level the playing field and encourage bets on both teams. It is added to the underdog’s final score (or deducted from the favorite’s final score) to determine the winner of the bet.
Here’s a simple example:
LA Lakers -4.5
NY Knicks +4.5
The Lakers are 4.5 point favorites in this game which means they have to win by 5 points or more for you to win your bet. If they win the game by 1-4 points (or lose) then you lose your bet.
Knicks bettors have two ways to win. They can win the game outright or lose by 4 points.
When your bet beats the point spread.
Instead of backing a team to win or cover the spread, betting on a total means you want the combined score of both teams to go Over or Under.
Here’s a simple example:
Patriots at Packers Under/Over 44.5
You bet on the Over if you’re expecting 45 points or more.
You bet on the Under if you’re expecting 44 points or less.
They are the middlemen who set the odds and accept wagers. Also known as a bookie, book or sportsbook. Can be licensed and regulated corporations, illegal sites based offshore, or your ‘friendly’ local bookie.
Bettors normally have to outlay $110 to win $100. This extra amount is known as the juice, vig or vigorish and is effectively the commission a bookie takes on each bet. The vig gives the bookmaker their edge and it means that a bettor will lose money with a 50% strike rate. They only start making money at 52.4% winners.
A type of side bet that’s away from the main result of the game. Common examples are Over or Under player points or quarterback yards.
A long-term wager normally on that team winning the Championship.
One wager but on multiple teams. So if all of your teams win you’ll get a much higher payout than you would by just betting on them individually. The flipside of course is that if just one of those teams loses you don’t get anything.
Sportsbooks love parlay bettors as they tend to lose at a much faster rate than individual bets.
A bet type where you pay more juice to adjust the standard point spread by adding or subtracting points. Two and three-team teasers are very popular in NFL betting.
Generally has one of two meanings for bettors:
1. An amount that corresponds to 1% of a bettor’s bank; or
2. An amount equal to one regular wager for that bettor
Your bankroll is the amount of money you have set aside to bet with. It’s the dollar amount you have dedicated to betting and would feel ‘comfortable’ losing. Managing that bankroll is crucial because you need to be betting enough to generate a reasonable return, but not so much that a losing run can wipe you out. Balancing that risk versus reward is essential for long term success.
Some bettors outlay the same amount per game – this is flat betting. Others bet a varying percentage of their bankroll per game depending on the odds available and their confidence level of that play. That is almost always between 1-5% of your total bankroll.
A bettor who has been successful for many years.
A recreational player who is highly unlikely to win long-term.
An unlucky loss. Every bettor can easily recall bets where you were certain you were going to win but somehow lost.
Any type of sports bet.
The team that is favored.
Term used to describe a professional (aka sharp) who is a long-term winning bettor.
Sports Betting 101
$1000 wager.
$500 wager.
The total volume of dollars bet on an event.
The most common scoring differentials such as 3,4 and 7 in NFL.
There is literally no such thing in betting but it is used by some to describe a certain win.
Live odds posted by bookies during the game. Also known as in-play.
The extra half point attached to the spread, eg at 3.5. Buying the hook would bring that down to 3.
Baseball’s version of the point spread. The -1.5 run line is most common and it requires the favorite to win by 2 runs or more.
A line that is moving fast.
A game where teams are seen to be evenly matched so there is no favorite/underdog/point spread.
When the result of a game lands on the point spread. Results in all bets being refunded.
Someone employed by a sharp to make bets on their behalf.
For more advanced betting knowledge check out our